FOREX EUR/USD 18th July 2008

"Euro has continued down into Wednesday's lows and probably hit Thursday's low, which coincides with the rotation down into the weekly 50%.

As pointed out in yesterday's report... if looking to go long, then a lower Daily open and back into the 5-day 50% level..."

Yesterday's report


Euro Daily & 3-day pattern

Euro capped below the 5-day 50% level most of the day, and then pushing down into the Weekly 50% level finding support.

Friday:- no probability pattern for Friday based on the price action.

Bounce off the Weekly 50% level can send the market higher on Friday ( UP Random length)

But looking at the intra-day filters and trading below the 5-day 50% it doesn't help.

Use Friday lows (support) as a trend guide for intra-day trading.


    • All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT

  • Exact levels shown for current day aren't confirmed until midnight GMT

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